Obama plays the 47% card against Romney in new ad

The Obama campaign announced a new ad today that plays up Mitt Romney's caught-on-camera remarks disparaging the 47 percent of people who don't pay income taxes. The ad, which suggests Romney is waging class warfare on cops and the elderly, compares the remarks with Romney's newly released tax records showing he paid 14 percent of his income. "Romney paid just 14 percent in taxes last year," a narrator says. "On over 13 million in income. Almost all from investments."

From the Romney camp: “President Obama’s policies have devastated the middle class. And his tax increases on middle-class families and small businesses will only make things worse. Mitt Romney will help middle-class families by lowering tax rates across the board, spurring growth and investment, creating 12 million jobs, and finally getting this country on the right track again.” – Jeff Bechdel Romney Spokesman